Helios Underwriting plc (AIM: HUW), the only publicly traded company offering direct access to a diversified portfolio of Lloyd's of London syndicates, has disclosed that two directors participated in its recent tender offer, with an aggregate of 1,182,259 ordinary shares tendered and purchased at 269 pence per share on 3 November 2026. Non-Executive Deputy Chairman Nigel Hanbury, alongside persons closely associated with him, tendered 432,136 shares, while Producers National Corporation — a vehicle associated with Non-Executive Director Tom Libassi — tendered 750,123 shares. The disclosure, made under UK Market Abuse Regulation requirements, updates the market on revised director and associated-party shareholding levels following completion of the tender offer.

Key Points

  • Helios Underwriting plc (AIM: HUW) — Lloyd's of London-focused investment vehicle quoted on London Stock Exchange AIM market
  • Nigel Hanbury and associated persons tendered 432,136 shares; Producers National Corporation (associated with Tom Libassi) tendered 750,123 shares, both at 269p per share on 3 November 2026
  • Post-tender, Hanbury and associates hold 7,447,237 shares (approximately 11.14% of voting rights); Libassi holds 12,137,899 shares (approximately 18.16% of voting rights)
  • Investors should watch for any further changes in director shareholding levels and updates relating to the tender offer circular published on 29 September 2026

Hanbury and Libassi-Linked Entity Sell Combined 1.18 Million Shares Under HUW Tender Offer at 269p

The tender offer, details of which were set out in a circular published by Helios on 29 September 2026, saw shares purchased on 3 November 2026 by Peel Hunt LLP pursuant to a Repurchase Agreement. All tendered shares — both the 432,136 from Hanbury and associated persons, and the 750,123 from Producers National Corporation — were sold at a uniform price of 269 pence per ordinary share of 10 pence each (ISIN: GB00B23XLS45), with transactions executed on London Stock Exchange AIM.

Revised Director Shareholdings After Helios Tender Completion Reflect Continued Significant Stakes

Despite participating in the tender, both directors retain material interests in Helios following its completion. Nigel Hanbury, Non-Executive Deputy Chairman, and persons closely associated with him now hold an aggregate of 7,447,237 ordinary shares, representing approximately 11.14% of the company's voting rights. Tom Libassi, Non-Executive Director, remains interested in an aggregate of 12,137,899 ordinary shares through Producers National Corporation, which is under the management of Resolute Global Partners Ltd — a firm Libassi co-founded and of which he is managing partner — representing approximately 18.16% of voting rights.

Helios Underwriting's Lloyd's Portfolio Strategy and AIM-Listed Structure

Helios Underwriting provides limited liability direct investment into the Lloyd's insurance market and operates a broad portfolio primarily participating in US and other international wholesale and reinsurance markets. As the only publicly traded vehicle offering instant access to a diversified range of Lloyd's syndicates, the company's business model is closely tied to underwriting conditions and capital deployment within Lloyd's, the world's largest insurance market. The company's AIM listing and concentrated director shareholding structure mean that PDMR transactions such as these warrant close attention from investors monitoring governance and insider activity.